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The report discusses the challenges and opportunities in the digital identity market, with a focus on the European Union's efforts to create a digital identity wallet based on verifiable credential technology. The report also highlights the uncertainty surrounding the commercial model for digital identity and the role of different stakeholders in its development. Despite these challenges, most market watchers believe that the EU's efforts will be a game-changer for digital identity schemes worldwide and lead to the adoption of verifiable credential technology elsewhere. The UK government is taking a different approach, seeking to introduce a framework that gives private sector providers more flexibility in developing solutions as long as they meet certain baseline criteria.
